KEY CONTRACT WIN FOR DRIVELINE SYSTEMS IN EUROPEAN MARKET WORTH 150 MEUR

Kongsberg Automotive (KA) has received nomination from a major European OEM for supply of the complete manual gear shifter system.

The shifter system will be used in one of the Top 10 most sold vehicle platforms in the EU region as well as in other B Segment cars. Those vehicles will be sold in Europe and later also in the emerging markets.

The contract has a total value of 150 MEUR over 7 years. Production supply will start in the first quarter of 2015 with a peak volume in 2016.

“It’s very satisfying that we continue to win with the major European OEMs. This nomination comes as a result of the skilled and hard work of our excellent cross functional team. This contract confirms our ability to win healthy business based on the right technology content.”, says EVP for Driveline Joachim Magnusson.

“Kongsberg Automotive has a unique position to be able to offer both a global footprint and full gear shifter system capability. This nomination is a testament of the value of these strengths to our customers. ”, says Head of Sales & Marketing for Driveline Ian van Duijvenboode.

Philippe Toth,  Mergers and Acquisitions & Investor Relations M: 47 98214021 Philippe.toth@ka-group.com

Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable.

Kongsberg Automotive’s business has a global presence. With revenues of close to EUR 1.0 billion and approximately 11.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 32 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com

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